Middle East ETF News Older than One Year
Qatari banks lift stock exchange slightly higher
August 23, 2011--The QE Index in Doha advanced by 28.5 points to 8,124.12 (up 0.35%). News that the conventional International Bank of Qatar (IBQ) has sold its Islamic banking retail business to Barwa Bank brought new optimism to the market that the financial sector will manage to separate Islamic from conventional banking, as the country's central bank imposed in February this year.
Commercial Bank of Qatar, the number two in the Gulf state, surged 1.88% to reach QR75.80, while Al Ahli Bank gained 3.38%, closing at QR82.50. Qatar Telecom declined 0.68% and finished at QR146.00.
Source: AME Info
Abu Dhabi energy heavweights move diametrally
August 23, 2011--The ADX General Index added a quarter percent on Tuesday, mainly due to advances in the financial and real estate sectors. First Gulf Bank gained half a percent to reach Dhs15.75, while Aldar Properties edged 0.85% higher to reach Dhs1.19.
While Abu Dhabi National Energy Co., known as Taqa, dipped 0.83%, Sharjah-based Dana Gas surged 1.85%, closing at Dhs0.54. Only 28.5m shares that were valued at Dhs57.1m changed hands.
Source: AME Info
Lacklustre Qatari bourse closes unchanged
August 22, 2011--The Doha-based QE Index ended up but eventually lost steam and closed flat at 8,095.54 points.
While banks outperformed, industry and insuranse stocks dipped overall. Al Ahli Bank soared 4.31% to reach QR79.80.
Source: AME Info
Global shares lead Kuwait market recovery
August 22, 2011--In an apparent positive reaction to the news from the fall of Tripolis to Libyan rebells, the KSE Market Index added 0.29%, ending at 5,780.9 points.
Global Investment House jumped 11.62%, closing at KD0.024. The insurance sector index fell slightly, with Warba Insurance Co. diving 5.2% to KD0.144.
Source: AME Info
Abu Dhabi bourse adds 0.59% amid strong construction shares
August 22, 2011--The ADX General Index closed 0.59% up, finishing at 2,570.95 points.
Gulf Cement Co. was the top gainer, closing up 7.29% at Dhs1.03. Real estate bellwether Aldar Properties gained 0.85%, reaching Dhs1.20. Arkan Building Materials surged 2.46% to reach Dhs1.25. Eighteen shares gained, two ended down five closed flat.
Source: AME Info
NASDAQ Dubai's Dubai Gold Securities surge 5.31%
August 22, 2011--The FTSE NASDAQ Dubai UAE 20 index closed 1.29% higher at 1,523.76 points. DP World added 0.91% to close at $11.10. Dubai Gold Securities, which mirror the performance of the price of gold per ounce, jumped over five percent, reaching $187.11.
Today,Gold continued to surge on Monday, despite the fall of the Gaddafi-regime in Libya. The Dubai-based interior designer DEPA Ltd. closed unchanged at $0.50.
Source: AME Info
Mini Libya-rally lifts Dubai market by 0.85%
August 22, 2011--The fall of the Gaddafi-regime has not triggered a bull rally, but lifted Arab stock markets slightly as the near-end of the crisis in Libya takes some uncertainty from the region.
The Dubai Financial Market (DFM) General Index DFM General closed 0.85% higher at 1,464.86 points. Emaar Properties gained one percent, finishing at Dhs2.79. Maintenance specialist Drake and Scull International (DSI) was the most liquid share in relation to volumes and trading turnover. DSI lost 0.34% to finish at Dhs0.867. Trading volumes increased by 50% as 80.6m shares changed hands, valued at Dhs90.7m.
Source: AME Info
Dubai Gold & Commodities Exchange Weekly Market Commentary-August 21, 2011
August 21, 2011--Economic Data Overview
The third week of August is typically a sleepy one, and this year events and market volatility should have ebbed enough that the August 22 week will follow that tradition. .
Although there are some first-tier indicators on the economic data calendar, there is probably nothing that will distract from Fed Chairman Ben Bernanke's speech at the annual Jackson Hole forum sponsored by the Kansas City Fed
Bernanke's scheduled remarks on Friday are going to be highly anticipated by markets. Last year's speech signalled the Fed's intention to respond to the economic slowdown with further large scale asset purchases, which the FOMC subsequently announced in early November 2010. This year's remarks are unlikely to include a hint of similar program.
The second estimate of second quarter GDP will be released on Friday. It could be revised a bit higher, and that would certainly help lighten some of the gloom about economic conditions. However, the third quarter in nearly 2/3 gone, and attention will be focused on fresher data.
The advance report on durable goods orders for July on Wednesday should seesaw back to an increase. The 1.9% decline in June was attributable to some softness in civilian aircraft. Boeing has reported a rise in new orders for July, so an increase is probable. Also, there may be some upward revision to the June data as a few orders from late in the month make it on to the books.
The Richmond Fed's Manufacturing Survey for August joins the reports from the New York and Philadelphia Feds. Conditions in the manufacturing sector are feeling the pinch of heightened uncertainty about the outlook. The Kansas City Fed's survey of manufacturing will be released on Thursday.
Consumer confidence was battered in late July/early August by a series of discouraging reports about economic conditions, and by the contentious negotiations over increasing the statutory debt limit and cutting the government budget. The preliminary Reuters/University of Michigan Consumer Sentiment Index fell to 54.9, near the readings seen during the last recession. This number is likely to be
Source: Dubai Gold & Commodities Exchange (DGCX)
UAE's first gold bullion coin is announced
August 22, 2011--Down on the commodities trading floor Phil Blizzard joins Jeffrey Rhodes, Global Head of Precious Metals & CEO, INTL Commodities, Dubai to talk about the production of gold at this record breaking time
and look at the value of other precious metals like silver and platinum. They also talk about the impact of the UAE's first gold bullion 'Khalifa' coin becoming legal tender in the UAE and across the Middle East.
Source: AME Info
Saudi market plummets 2.58%
August 20, 2011--As a direct recation to yesterday's global market meltdown in, the Tadawul bourse fell by 156.97 points or 2.58% to 5,931.29 points. Market bellwether Sabic dived 3.63% to SR93.00. Declining oil prices also weigh on Riyadh.
The barrel oil (US Crude) fell by 16% during the last month. Only seven shares bucked Saturday's downtrend, among them AXA Cooperative Insurance (up 10% at SR60.50) and ACE Arabia Cooperative Insurance Co. (2.80% higher at SR33.00).
Source: AME Info
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